Employment in the Garden State was essentially unchanged in June, while the state’s unemployment rate continued its downward trend, dipping to 4.3 percent, according to preliminary estimates produced by the U.S. Bureau of Labor Statistics.
Total nonfarm wage and salary employment moved lower by 500 in June to a seasonally adjusted level of 4,179,500. The state’s unemployment rate dipped by 0.1 percentage point in June.
Based on more complete reporting from employers, previously released total nonfarm employment estimates for May were revised higher by 800 jobs to show an over-the-month (April – May) increase of 4,900 jobs. Preliminary estimates had indicated an over-the-month gain of 4,100 jobs. The state’s revised April unemployment rate was unchanged at 4.4 percent.
Looking at the longer-term, over the year June 2017 – June 2018, employment in New Jersey was higher by 43,900, with the majority of the gains recorded by private-sector employers (+42,100). Since February 2010 (the low point of the last recession), New Jersey’s private sector employers have added 372,100 jobs.
In June, employment increases were recorded in five out of nine major private-industry sectors. Industries that added jobs over the month were professional and business services (+1,600), education and health services (+1,300), manufacturing (+600), construction (+300), and trade, transportation and utilities (+300). Industry sectors that lost jobs over the month were leisure and hospitality (-3,000), information (-1,100), other services (-800), and financial activities (-500). Public-sector employment was higher by 800 jobs over the month.
Preliminary BLS data for July 2018 will be released on August 16, 2018.
To access more business news, visit NJB News Now.Related Articles: